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Tuesday, 23 February 2016

BEARS SHOUT INDICES TURNED FROM BAD TO WORSE

BFUTILITIE ALMOST HIT FINAL TGT 560 MADE HIGH OF 557.75 BUY
AT 515

The market
continued to bleed with the Sensex skid 378 points or 1.6 % at 23410.18 and the
Nifty slipped 125 points or 1.7 % at 7109.55. About 723 shares have advanced,
1883 shares declined, and 142 shares are unchanged.The
overall market breadth was negative as 1,885 stocks declined while 718 stocks
advanced.Selling pressure was visible across the sectors. Banking shares were
among the worst hit in trades today. The banking sub-index on the National
Stock Exchange- Bank Nifty ended 2.62 per cent lower at 14,008. Indian Rupee opened lower by 5 paise at
68.65/$ in early trade on Tuesday as against the previous close of 68.60/$. On
Monday, Indian rupee weakened to 30 month low against the greenback, impacted
by month end dollar demand from the importers and persistent foreign capital
outflows. Moreover, strong tone in US dollar against basket of major currencies
took a toll on Indian rupee. Sentiments also remained low on report that
exports of over half of the sectors, out of the 30 closely monitored by the one
in January due to a fall in global prices and demand. All but five
of Nifty50 stocks were trading in the green erce Ministry, were in the negative as the
benchmark index shed some 103 points. Asian Paints, which was up mariganally by
0.81%, was the top gainer followed by ONGC , Tata Motors , Tata Steel and Infosys. Among the 45 losers, Cairn India
lost the most at 4.21 per cent, followed by Bank of Baroda, Coal India, PNB and
SBI.